Insider Buying: The Chemours Company (NYSE:CC) Insider Purchases 13,400 Shares of Stock

The Chemours Company (NYSE:CC - Get Free Report) insider Damian Gumpel acquired 13,400 shares of the stock in a transaction dated Monday, June 2nd. The stock was acquired at an average cost of $9.22 per share, with a total value of $123,548.00. Following the transaction, the insider now directly owns 123,879 shares in the company, valued at approximately $1,142,164.38. This represents a 12.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Damian Gumpel also recently made the following trade(s):

• On Tuesday, June 3rd, Damian Gumpel purchased 7,822 shares of Chemours stock. The stock was acquired at an average price of $9.95 per share, with a total value of $77,828.90.

Chemours Stock Performance

NYSE CC traded up $0.12 on Wednesday, hitting $10.05. 3,041,422 shares of the company's stock were exchanged, compared to its average volume of 2,180,616. The company has a debt-to-equity ratio of 6.70, a current ratio of 1.68 and a quick ratio of 0.92. The firm's 50-day moving average price is $11.30 and its two-hundred day moving average price is $15.49. The Chemours Company has a fifty-two week low of $9.13 and a fifty-two week high of $25.80. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 17.63 and a beta of 1.76.

Chemours (NYSE:CC - Get Free Report) last released its earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). Chemours had a return on equity of 26.54% and a net margin of 1.51%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the firm posted $0.32 EPS. The business's revenue for the quarter was up .4% on a year-over-year basis. On average, research analysts expect that The Chemours Company will post 2.03 EPS for the current year.

Chemours Announces Dividend

The firm also recently announced a dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, May 19th will be given a dividend of $0.0875 per share. This represents a yield of 3.17%. The ex-dividend date of this dividend is Friday, May 16th. Chemours's payout ratio is 175.00%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CC shares. Truist Financial cut their target price on Chemours from $27.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, April 14th. UBS Group decreased their price target on Chemours from $18.00 to $17.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. The Goldman Sachs Group cut their target price on Chemours from $21.00 to $14.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 14th. Royal Bank of Canada cut their target price on Chemours from $17.00 to $14.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Finally, BMO Capital Markets cut their target price on Chemours from $34.00 to $27.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $17.22.

Hedge Funds Weigh In On Chemours

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Chemours during the 4th quarter worth approximately $30,702,000. Millennium Management LLC boosted its stake in shares of Chemours by 60.4% during the 1st quarter. Millennium Management LLC now owns 4,022,782 shares of the specialty chemicals company's stock worth $54,428,000 after acquiring an additional 1,515,520 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Chemours by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 16,487,008 shares of the specialty chemicals company's stock worth $223,069,000 after acquiring an additional 1,263,047 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Chemours by 1,496.4% during the 4th quarter. Bank of Montreal Can now owns 953,240 shares of the specialty chemicals company's stock worth $16,110,000 after acquiring an additional 893,530 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Chemours by 23.8% during the 4th quarter. Ameriprise Financial Inc. now owns 4,373,172 shares of the specialty chemicals company's stock worth $73,907,000 after acquiring an additional 839,849 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company's stock.

About Chemours

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.

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